{"id":173282,"date":"2024-10-17T12:25:39","date_gmt":"2024-10-17T12:25:39","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=173282"},"modified":"2024-10-17T12:25:44","modified_gmt":"2024-10-17T12:25:44","slug":"crypto-hits-new-heights-a16zs-report-highlights-220m-active-addresses-with-solana-dominating","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/crypto-hits-new-heights-a16zs-report-highlights-220m-active-addresses-with-solana-dominating\/","title":{"rendered":"Crypto Hits New Heights: a16z\u2019s Report Highlights 220M Active Addresses with Solana Dominating"},"content":{"rendered":"<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">TL;DR<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><strong><span data-preserver-spaces=\"true\">Record Crypto Activity<\/span><\/strong><span data-preserver-spaces=\"true\">: a16z\u2019s 2024 report reveals 220 million active blockchain addresses, tripling since late 2023, with Solana leading at nearly 100 million active addresses.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Stablecoins and DeFi Growth<\/span><\/strong><span data-preserver-spaces=\"true\">: Stablecoins processed $8.5 trillion in Q2 2024, surpassing Visa\u2019s volume, while DeFi and Web3 gaming drive significant on-chain transactions.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Crypto and AI Convergence<\/span><\/strong><span data-preserver-spaces=\"true\"><span data-preserver-spaces=\"true\">: Blockchain addresses AI challenges, enhancing applications, with crypto becoming a key political issue and the SEC approving Bitcoin and Ethereum ETPs.<\/span><\/span><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Andreessen Horowitz (a16z) has <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/a16zcrypto.com\/posts\/article\/state-of-crypto-report-2024\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">reported<\/span><\/a><span data-preserver-spaces=\"true\"> an unprecedented surge in <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/what-are-cryptocurrencies-and-which-are-the-best-to-invest-in\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">cryptocurrency<\/span><\/a><span data-preserver-spaces=\"true\"> activity. <\/span><\/strong><span data-preserver-spaces=\"true\">According to their 2024 State of Crypto report,<\/span><strong><span data-preserver-spaces=\"true\"> the number of active blockchain addresses<\/span><\/strong><span data-preserver-spaces=\"true\"> has soared to <\/span><strong><span data-preserver-spaces=\"true\">220 million<\/span><\/strong><span data-preserver-spaces=\"true\"> as of September 2024, tripling the figures from late 2023. <\/span><!--more--><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">This surge underscores <\/span><span data-preserver-spaces=\"true\">the<\/span><span data-preserver-spaces=\"true\"> growing adoption and integration <\/span><span data-preserver-spaces=\"true\">of <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/blockchain-technology\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">blockchain<\/span><\/a><span data-preserver-spaces=\"true\"> technology<\/span><\/strong><span data-preserver-spaces=\"true\"> across various sectors.<\/span> <span data-preserver-spaces=\"true\">A significant highlight of the report is<\/span><span data-preserver-spaces=\"true\"> the dominance of Solana, which alone accounts for nearly 100 million active addresses.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">This remarkable growth positions Solana as a leading blockchain network, outpacing other prominent platforms like Ethereum and NEAR. <\/span><strong><span data-preserver-spaces=\"true\">The report attributes Solana\u2019s success to its high throughput and low transaction costs<\/span><\/strong><span data-preserver-spaces=\"true\">, making it an attractive option for developers and users <\/span><span data-preserver-spaces=\"true\">alike<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">The Role of Stablecoins and DeFi<\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Stablecoins have emerged as a critical component of the crypto ecosystem<\/span><\/strong><span data-preserver-spaces=\"true\">, facilitating fast and low-cost global payments. In the second quarter of 2024, <\/span><strong><span data-preserver-spaces=\"true\">stablecoins facilitated transactions totaling $8.5 trillion<\/span><\/strong><span data-preserver-spaces=\"true\">, surpassing Visa&#8217;s transaction volume for that same timeframe by more than twofold.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">This highlights their growing acceptance and utility in the financial system. Decentralized finance (DeFi) also continues to thrive, with a16z noting its resilience and potential for further growth. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Despite the stabilization of DeFi and non-fungible tokens (NFTs) since their 2021 boom, Web3 applications, particularly <\/span><span data-preserver-spaces=\"true\">in<\/span><span data-preserver-spaces=\"true\"> gaming, have driven significant on-chain transactions.<\/span><\/p>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-173283\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/CryptoAndIA.jpg\" alt=\"Crypto Hits New Heights: a16z\u2019s Report Highlights 220M Active Addresses with Solana Dominating\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/CryptoAndIA.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/CryptoAndIA-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/CryptoAndIA-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Crypto and AI: A Symbiotic Relationship<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The report also delves into the intersection of blockchain and artificial intelligence (AI). <\/span><strong><span data-preserver-spaces=\"true\">It highlights how blockchain technology can address AI\u2019s challenges<\/span><\/strong><span data-preserver-spaces=\"true\"> around centralization, digital media authenticity, and creator compensation. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">This convergence is <\/span><span data-preserver-spaces=\"true\">seen as<\/span><span data-preserver-spaces=\"true\"> a pivotal development, with blockchain providing decentralized solutions to enhance AI applications. As the 2024 U.S. election approaches, cryptocurrency has become a <\/span><span data-preserver-spaces=\"true\">key<\/span><span data-preserver-spaces=\"true\"> political issue. <\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">States like Pennsylvania and Wisconsin have seen a surge in crypto interest<\/span><\/strong><span data-preserver-spaces=\"true\">, reflecting its growing political relevance. The approval of Bitcoin and Ethereum ETPs by the U.S. SEC is also a significant milestone, broadening crypto\u2019s reach among traditional investors.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The 2024 State of Crypto report by a16z paints a promising picture of the cryptocurrency landscape. With record-breaking activity, the rise of Solana, and the integration of blockchain with AI, the future of crypto looks brighter than ever.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Record Crypto Activity: a16z\u2019s 2024 report reveals 220 million active blockchain addresses, tripling since late 2023, with Solana leading at nearly 100 million active addresses. Stablecoins and DeFi Growth: Stablecoins processed $8.5 trillion in Q2 2024, surpassing Visa\u2019s volume, while DeFi and Web3 gaming drive significant on-chain transactions. Crypto and AI Convergence: Blockchain addresses &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Crypto Hits New Heights: a16z\u2019s Report Highlights 220M Active Addresses with Solana Dominating\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/crypto-hits-new-heights-a16zs-report-highlights-220m-active-addresses-with-solana-dominating\/#more-173282\" aria-label=\"More on Crypto Hits New Heights: a16z\u2019s Report Highlights 220M Active Addresses with Solana Dominating\">Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":173284,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4591,4620,4656,5348,9906],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/173282"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=173282"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/173282\/revisions"}],"predecessor-version":[{"id":173285,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/173282\/revisions\/173285"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/173284"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=173282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=173282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=173282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}